POSCO Future M signed a contract with LG Energy Solution to supply cathode materials worth more than 30 trillion won. It raised the amount of orders to POSCO Future M to over 90 trillion won. Experts forecast that POSCO Future M will continue to grow through aggressive order-taking activities. The c
LG Energy Solution said it expects its order momentum to continue, noting that it has received an increasing number of requests from customers for additional supplies and business cooperation after the implementation of the U.S. Inflation Reduction Act (IRA).LG Energy Solution made the announcement
Hanwha Q CELLS announced on April 26 that its Brand Identity nabbed the Main Prize in the Brand Communication category of the iF Design Awards 2023, a global design competition.Q CELLS’ brand identity was highly recognized for capturing the company’s goals and philosophy as a green energy solutions
The Korea Customs Service held K-Customs Week 2023 in Seoul on April 26. The heads of the customs authorities of 75 countries attended the three-day conference and adopted a joint statement to work more closely together for digitalization of customs administration, non-tariff trade barrier eliminati
The IMF announced on April 26 that South Korea’s foreign exchange reserves at the end of last year were 97 percent of the level that is deemed adequate.According to the IMF, the ratio topped 100 percent from 2000 to 2019 but fell to 98.9 percent in 2020 and slightly rose to 99 percent in 2021. It ex
The carbon border adjustment mechanism of the European Union is about to take effect and South Korean steelmakers’ exports to Europe, which totaled US$6 billion last year, are likely to take a hit.In the mechanism, companies exporting steel, aluminum, fertilizers, electricity, cement, and hydrogen p
President Yoon Suk-yeol and Vice President Kamala Harris met at the NASA Goddard Space Flight Center on April 25. There, NASA Deputy Administrator Pam Melroy and Science and ICT Minister Lee Jong-ho signed a joint statement for cooperation in fields including space science and exploration.The South
President Yoon Suk-yeol attended a U.S.-South Korea business conference in Washington D.C. on April 25. He was accompanied by Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo and Lotte Group chairman
Boryung signed a joint venture agreement with Axiom Space, Inc. in Washington, D.C., on April 25 in the presence of Koo Ja-yeol, chairman of the Korea International Trade Association, who visited the United States as part of an economic mission. The agreement was signed by Kim Jung-kyun, president o
The Incheon Free Economic Zone (IFEZ) Authority announced that DB Schenker completed the Global Delivery Center (KLC2) at the Airport Logistics Complex in Yeongjong International City near Incheon on April 26, in more than one year and five months since breaking ground in November 2021.The state-of-
Kim Han-young, chairman of Korea National Railway, met with El Salvadoran Ambassador to Korea Jaime José López Badia at its headquarters in Daejeon to publicize the technological capabilities of the Korean Railways and discuss railway cooperation between the two countries on April 26.Prior to the vi
The author is an analyst of Shinhan Securities. He can be reached at keonhyeong.ha@shinhan.com -- Ed.Korea’s GDP grows 0.3% QoQ in 1Q23, avoiding technical recessionKorea’s gross domestic product (GDP) for the first three months of 2023 grew 0.3% from the previous quarter, preventing the country fro
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com -- Ed.SK Hynix’s 1Q23 results came in better than feared. The memory chip market should improve in 2Q23, with prices set to increase from 2H23. The company’s technological prowess for HBM should provide addit
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 review: Operating loss comes in at KRW19bn (RR YoY, QoQ)Solus Advanced Materials posted an operating loss of KRW19bn (continued loss YoY, QoQ) on sales of KRW112.8bn (-9% YoY, +3% QoQ) for 1Q23, fari
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP comes in at KRW3.6tr (+86% YoY, +7% QoQ)Hyundai Motor posted operating profit of KRW3.6tr (+86% YoY, +7% QoQ) on sales of KRW37.8tr (+25% YoY, -2% QoQ) in 1Q23, beating the consensus estimate by 2
A hinge problem involving Samsung Electronics’ premium foldable Galaxy Z phone series has resurfaced. Due to the nature of a foldable phone, it should fully unfold to 180 degrees, but sometimes it does not. If this problem continues to take place, a phenomenon occurs where black lines appear in the
As Samsung Electronics has considered changing the default search engine for Galaxy smartphones from Google to Microsoft (MS), a crack has appeared in a 12-year-long relationship between Samsung Electronics and Google. Under these circumstances, as the launch of Google’s first foldable smartphone is
Page Profit Share (PPS), a revenue diversification program created by Naver Webtoon to share profits with cartoonists, has grown 87 times in 10 years since its introduction. The annual revenue has crossed the 2 trillion won line. In the future, based on the intellectual property (IP) of original wor
Hanwha Aerospace announced that it has invested in an Israeli start-up that has anti-jamming technology to counter interferences to signals from global positioning systems (GPS).A jamming attack that neutralizes GPS services has emerged as a new threat not only in the military field but also in the
Kumho Tire picked up the Winner Prize in the concept category of Germany’s International Forum Design Award 2023.The iF Design Award is an international design competition that was first held in 1954 and celebrates its 70th anniversary this year. It has a jury of 133 experts from around the world.Th